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Wednesday’s Insider Report: Companies insiders are buying and selling

People make their way an escalator at the Cineplex Entertainment company's annual general meeting in Toronto on Wednesday, May 17.

Nathan Denette/THE CANADIAN PRESS

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. An insider's total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company's shares or units.

Let's begin the report detailing a company with buying activity.

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Cineplex Inc. (CGX-T)

On Sept. 7, chief operating officer Dan McGrath purchased 10,000 shares at an average price per share of $38.59, increasing his portfolio's position to 56,652 shares.

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The following companies have had recent insider selling activity.

Gluskin Sheff + Associates Inc. (GS-T)

On Aug.18, the firm's chief economist and strategist David Rosenberg sold 30,660 shares at an average price per share of $16.90. The following week, on August 23, he sold 3,000 shares at an average price per share of $17.11, eliminating his portfolio's position.

NuVista Energy Ltd. (NVA-T)

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On Aug. 30, chairman of the board Keith MacPhail sold 64,500 shares at an average price per share of $6.31, trimming his portfolio's significant position down to 2,414,812 shares.

Paramount Resources Ltd. (POU-T)

On Sept. 5, Michael Han, vice-president – information services, exercised his options and sold the corresponding number of shares (6,000) at an average price per share of $21.494, eliminating his portfolio's position.

Toromont Industries Ltd. (TIH-T)

On Sept. 6, business unit leader David Malinauskas, president of CIMCO Refrigeration, exercised his options and sold the corresponding number of shares (3,200) at an average price per share of $53.50, leaving 70 shares in the portfolio.

On Sept. 5, president and chief executive officer Scott Medhurst exercised his options, receiving 25,000 shares, and subsequently sold 14,748 shares at an average price per share above $52. After these transactions, he held 120,167 shares in his portfolio.

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On Sept. 5, lead director John McCallum exercised his options and sold the corresponding number of shares (2,000) at an average price per share above $52 with a remaining portfolio balance of 58,000 shares.

On Aug. 31, business unit leader Randy Casson, president of the construction division/Battlefield, exercised his options and sold the corresponding number of shares (8,000) at an average price per share of $53.60, leaving a remaining portfolio balance of 120,000 shares.

The prior day, David Wetherald, vice-president of human resources and legal, exercised his options and sold the corresponding number of shares (13,300), eliminating his portfolio's position.

Follow me on Twitter at @jennifer_dowty to receive links to all my insider reports

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About the Author
Equities analyst

Jennifer Dowty, CFA, is an equities analyst at The Globe and Mail. She has approximately 18 years of experience working in the financial industry, 14 of those years were at Manulife Asset Management, where she worked her way up to become an Equities Portfolio Manager. More

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